EANS-News

AMAG Austria Metall AG reports positive earnings development in Q1 2021

--------------------------------------------------------------------------------
Corporate news transmitted by euro adhoc with the aim of a Europe-wide
distribution. The issuer is responsible for the content of this announcement.
--------------------------------------------------------------------------------

Quarterly Report

Ranshofen -

* Favourable market environment in all AMAG segments, with the exception of
aircraft
* Revenue increased to EUR 251.2 million (Q1 2020: EUR 246.4 million)
* EBITDA of EUR 30.3 million after EUR 36.5 million in Q1 2020
* Earnings' contribution of approximately 11,000 tonnes of primary metal shifted
to Q2 2021 due to delayed departure of a transport ship at the Alouette plant
in Canada
* Net income after taxes clearly positive again at EUR 5.1 million after three
quarters of short-time work (Q1 2020: EUR 11.5 million)
* Outlook for 2021: EBITDA between EUR 125 million and EUR 140 million based on
current market assumptions


AMAG Austria Metall AG confidently started into 2021 after tangible economic
improvements in Q4 2020. Q1 2021 showed a positive trend in orders in all areas
relevant to AMAG, with the exception of the aircraft industry.

The AMAG Group's revenue increased to EUR 251.2 million in the current quarter
due to solid shipment volumes and higher aluminium price (Q1 2020: EUR 246.4
million). With a shipment volume of 98,500 tonnes in Q1 2021, the AMAG Group was
at a similar level compared to the same quarter of the previous year (Q1 2020:
99,600 tonnes), though 11,000 tonnes of primary aluminium were not recognised
for the quarter as a result of the delayed departure of a transport ship.

With the effects of COVID-19 still affecting the quarter and the delayed
shipment mentioned above, earnings before interest, tax, depreciation and
amortisation (EBITDA) was a solid EUR 30.3 million after EUR 36.5 million in Q1
2020.

The Metal division benefitted from attractive aluminium and alumina prices.
Production at the Alouette plant in Canada is progressing at a consistently
stable level. EBITDA amounted to EUR 10.3 million in total in Q1 2021 (Q1 2020:
EUR 13.4 million).

The Casting division took advantage of the positive market environment in the
automotive industry and generated EBITDA of EUR 3.5 million in the reporting
quarter after EUR 1.4 million in Q1 of the previous year.

EBITDA in the Rolling division reflects the clear improvement in the order
intake situation overall, despite the negative impact of changes in the product
mix due to COVID-19. With EUR 17.4 million in Q1 2021, EBITDA was below the Q1